INDIA
ANNEX
1. The following amendments are made to the Terms and Conditions:
(a) Clause A.11.2(n) is modified by:
(i) deleting the words “a voluntary” appearing immediately after the words
“purposes of considering” and inserting the words “or approving an
arrangement with its creditors or class or creditors or a voluntary winding
up” in lieu thereof;
(ii) deleting the words “as referred to” appearing immediately after the word
“arrangement” and inserting the words “provided for” in lieu thereof;
(iii) adding a comma immediately after the phrase “section 3 of the Insolvency
Act 1986” and adding the phrase “the Companies Act, 1956, the Banking
Act, 1949, any other statutory or regulatory provision applicable to it or any
provisions notified or issued by a Regulator” immediately after the comma;
(iv) adding the word “or” following the semi-colon at the end of Clause
A.11.2(n) and adding the following sub-clauses A.11.2(nA) and A.11.2(nB):
A.11.2(nA) any person or entity, including any Government or any
subdivision, instrumentality, agency, office or authority thereof, including
any statutory, regulatory or supervisory authority having jurisdiction over a
party hereto, makes or issues any direction, order or other communication,
or takes any other action, which results in or has the effect of a moratorium,
in relation to such party (or one or more of its branches) staying the
commencement or continuation of any or all actions and proceedings against
such party (or one or more of its branches) and/or preventing such party (or
one or more of its branches) from entering into or performing or otherwise
complying with any agreement or any obligation under any agreement,
including, without limitation, these Terms and Conditions or any
Transaction; or
A.11.2(nB) causes, commences, acquiesces in or is otherwise subject to any
event with respect to it which, under the applicable laws of any jurisdiction,
has an analogous effect to any of the events specified in this Clause 11.”
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